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This really out weighs most benefit i could get by trading.....yeah sure I could buy and sell, but I going to miss the boat at some point is a sell, and then its going and order of magnitude on me, not comming back, and thats that.
Yup. Add to that the fact that day-traders are highly exposed to optimism bias and selective memory. Furthermore, the bitcoin market is likely a fun toy for experienced Wall St. traders who get to manipulate a thin market and fleece a bunch of 23yr olds who think they have it "figured out".
Day trading is a negative-sum game. Very similar to poker. In poker, an analysis of large online hand databases suggested that about 2/3 of players lost, and that the vast majority of the 1/3 that actually ended up ahead, only ended up very slightly ahead (ie, not even close to being worth the time). I'd love to see a survey of the 2/3 of losing players and how many of them *think* that they win....again, optimism bias and selective memory.